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The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe.The March 19 announcement from the U.S. Fed comes only a few hours after Swiss-based bank Credit
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This week, Bitcoin’s (BTC) upward surge was the most significant event. The coin rose above $27,000 amid a banking crisis in the United States. The situation reiterated the need for users to hedge against economic instabilities using digital assets. In the mid of this crisis, the Silicon Valley Bank (SVB)
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Despite growing concerns in the United States banking industry, the crypto industry stands firm, raising over $4m through token sales last week. On Mar. 19, CryptoRank data revealed that despite a contraction, the amount raised had increased significantly; showcasing the resilience and adaptability of the crypto industry. Collapse of major US banks
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Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis”
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Speculation and debate continue to rage surrounding the current global banking debacle. Hedge fund manager Michael Burry — known for predicting 2008’s economic crisis — is drawing comparisons to the Panic of 1907, while Rich Dad Poor Dad author Robert Kiyosaki warned this week of more ‘fake money’ being injected
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When it comes to trading, the good news for investors is the crypto industry has become increasingly less reliant on fiat currencies over the past few years. In fact, the percentage of market share of all volume on centralized exchanges for stablecoins just hit an all-time high following the Silvergate
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A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the
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At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in the global banking
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Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank
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The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank
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